_(SF_TREND_LINES)
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This script is designed to automatically identify and draw trend channels on a trading chart. It simplifies technical analysis by providing a visual representation of the market's direction, the "slope" of the current move, and key price boundaries.
Core Functionality
1. Automated Trend Detection The logic scans through recent historical price data (the number of bars analyzed depends on your specific timeframe) to identify significant "fractals"—essentially peaks and valleys in the price action. It looks for high and low points to establish the start and end of a primary trend. Once these two points are found, the script calculates the trajectory between them.
2. Dynamic Channel Drawing Based on the detected trend, the tool draws three distinct lines on your chart:
- Upper Boundary: Defines the ceiling of the current price movement.
- Lower Boundary: Defines the floor of the current price movement.
- Median Line: A dotted line that represents the "fair value" or middle ground between the upper and lower boundaries.
3. Real-Time Price Analysis The script doesn't just draw lines; it constantly monitors where the current price sits relative to these boundaries. It calculates the "Step," which is the mathematical rate of change (the slope) of the trend. If the price breaks out of the expected channel, the logic identifies the nearest valid point to maintain an accurate visual of the market structure.
4. On-Screen Information Dashboard The tool provides a live data summary in the corner of your chart, including:
- Channel Size: The vertical distance between the high and low boundaries.
- Slope: A numerical value showing how steeply the price is moving.
- Daily Statistics: It calculates the current day's range (High vs. Low), the daily opening price, and exactly how many pips the price is currently away from that opening.
- Average Volatility: It performs a complex calculation of "Average Daily Range" by looking back at several previous days to provide a sense of how much the currency pair typically moves.
How it Works for the User
The logic is designed to be "set and forget." By scanning past data, it automatically constructs a visual corridor. Traders can use this to see if the market is trending smoothly within a channel or if the price is becoming overextended (hitting the boundaries). Because it updates based on new bars, the lines move and adjust as the market develops, providing a constant visual guide of the prevailing trend.
Price Data Components
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_(SF_TREND_LINES)
//+------------------------------------------------------------------+
//| #(SF_TREND_LINES).mq4 |
//| Copyright © 2007 ForexArea.com |
//| Utilizing code from SHI_Channel_true.mq4 by Shurka & Kevin|
//+------------------------------------------------------------------+
#property copyright "Copyright © 2007, ForexArea.com"
#property link "http://www.forexarea.com"
//+------------------------------------------------------------------+
//| |
//| SUGGESTIONS FOR USE |
//| ------------------- |
//| 1. Put on WK chart, set color, remove from chart.|
//| 2. Repeat on all currency pairs you trade.|
//| 3. Change TF to D1, set color, remove from chart.|
//| 4. Repeat on all currency pairs you trade.|
//| 5. Do the same on 4HR TF of all pairs.|
//| |
//| Don't forget to remove indicator before switching TF's!!!!|
//| |
//+------------------------------------------------------------------+
#property indicator_chart_window
#property indicator_buffers 3
#property indicator_color1 Red
//----
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
//---- input parameters
extern color LineColor=DarkOrange;
extern int AllBars=240;
extern int BarsForFract=0;
int CurrentBar=0;
double Step=0;
int B1=-1,B2=-1;
int UpDown=0;
double P1=0,P2=0,PP=0;
int i=0,AB=300,BFF=0;
int ishift=0;
double iprice=0;
datetime T1,T2;
string TL1, TL2, MIDL, TFS;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_ARROW);
SetIndexArrow(0,164);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexEmptyValue(0,0.0);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexBuffer(2,ExtMapBuffer3);
//unique names for lines based on Period();
switch(Period())
{
case(1):
TFS="M1";
break;
case(5):
TFS="M5";
break;
case(30):
TFS="M30";
break;
case(60):
TFS="H1";
break;
case(240):
TFS="H4";
break;
case(1440):
TFS="D1";
break;
case(10080):
TFS="WK1";
break;
case(43200):
TFS="MN1";
break;
default:
TFS="UNKNOWN_TIMEFRAME";
break;
}
TL1="TL1_" + TFS;
TL2="TL2_" + TFS;
MIDL="MIDL_" + TFS;
//---
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
void DelObj()
{
ObjectDelete(TL1);
ObjectDelete(TL2);
ObjectDelete(MIDL);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
double j;
string temp;
int m,s,k;
m=Time[0]+Period()*60-CurTime();
j=m/60.0;
s=m%60;
m=(m-m%60)/60;
temp =(m + " minutes " + s + " seconds left to bar end");
ObjectDelete("time");
if(ObjectFind("time")!=0)
{
ObjectCreate("time", OBJ_TEXT, 0, Time[0], Close[0]+ 0.0005);
ObjectSetText("time", " <--"+m+":"+s, 13, "Verdana", Yellow);
}
else
{
ObjectMove("time", 0, Time[0], Close[0]+0.0005);
}
int counted_bars=IndicatorCounted();
//----
if ((AllBars==0) || (Bars<AllBars)) AB=Bars; else AB=AllBars; //AB-êîëè÷åñòâî îáñ÷èòûâàåìûõ áàðîâ
if (BarsForFract>0)
BFF=BarsForFract;
else
{
switch(Period())
{
case 1: BFF=12; break;
case 5: BFF=48; break;
case 15: BFF=24; break;
case 30: BFF=24; break;
case 60: BFF=12; break;
case 240: BFF=15; break;
case 1440: BFF=10; break;
case 10080: BFF=6; break;
default: DelObj(); return(-1); break;
}
}
CurrentBar=2; //ñ÷èòàåì ñ òðåòüåãî áàðà, ÷òîáû ôðàêòàë "çàêðåïèëñÿ
B1=-1; B2=-1; UpDown=0;
while(((B1==-1) || (B2==-1)) && (CurrentBar<AB))
{
//UpDown=1 çíà÷èò ïåðâûé ôðàêòàë íàéäåí ñâåðõó, UpDown=-1 çíà÷èò ïåðâûé ôðàêòàë
//íàéäåí ñíèçó, UpDown=0 çíà÷èò ôðàêòàë åù¸ íå íàéäåí.
//Â1 è Â2 - íîìåðà áàðîâ ñ ôðàêòàëàìè, ÷åðåç íèõ ñòðîèì îïîðíóþ ëèíèþ.
//Ð1 è Ð2 - ñîîòâåòñòâåííî öåíû ÷åðåç êîòîðûå áóäåì ëèíèþ ïðîâîäèòü
if((UpDown<1) && (CurrentBar==Lowest(Symbol(),Period(),MODE_LOW,BFF*2+1,CurrentBar-BFF)))
{
if(UpDown==0) { UpDown=-1; B1=CurrentBar; P1=Low[B1]; }
else { B2=CurrentBar; P2=Low[B2];}
}
if((UpDown>-1) && (CurrentBar==Highest(Symbol(),Period(),MODE_HIGH,BFF*2+1,CurrentBar-BFF)))
{
if(UpDown==0) { UpDown=1; B1=CurrentBar; P1=High[B1]; }
else { B2=CurrentBar; P2=High[B2]; }
}
CurrentBar++;
}
if((B1==-1) || (B2==-1)) {DelObj(); return(-1);} // Çíà÷èò íå íàøëè ôðàêòàëîâ ñðåäè 300 áàðîâ 8-)
Step=(P2-P1)/(B2-B1);//Âû÷èñëèëè øàã, åñëè îí ïîëîæèòåëüíûé, òî êàíàë íèñõîäÿùèé
P1=P1-B1*Step; B1=0;//ïåðåñòàâëÿåì öåíó è ïåðâûé áàð ê íóëþ
//À òåïåðü îïîðíóþ òî÷êó ïðîòèâîïîëîæíîé ëèíèè êàíàëà.
ishift=0; iprice=0;
if(UpDown==1)
{
PP=Low[2]-2*Step;
for(i=3;i<=B2;i++)
{
if(Low[i]<PP+Step*i) { PP=Low[i]-i*Step; }
}
if(Low[0]<PP) {ishift=0; iprice=PP;}
if(Low[1]<PP+Step) {ishift=1; iprice=PP+Step;}
if(High[0]>P1) {ishift=0; iprice=P1;}
if(High[1]>P1+Step) {ishift=1; iprice=P1+Step;}
}
else
{
PP=High[2]-2*Step;
for(i=3;i<=B2;i++)
{
if(High[i]>PP+Step*i) { PP=High[i]-i*Step;}
}
if(Low[0]<P1) {ishift=0; iprice=P1;}
if(Low[1]<P1+Step) {ishift=1; iprice=P1+Step;}
if(High[0]>PP) {ishift=0; iprice=PP;}
if(High[1]>PP+Step) {ishift=1; iprice=PP+Step;}
}
//Òåïåðü ïåðåñòàâèì êîíå÷íóþ öåíó è áàð íà ÀÂ, ÷òîáû ëèíèè êàíàëà ðèñîâàëèñü ïîäëèííåå
P2=P1+AB*Step;
T1=Time[B1]; T2=Time[AB];
//Åñëè íå áûëî ïåðåñå÷åíèÿ êàíàëà, òî 0, èíà÷å ñòàâèì ïñèñó.
if(iprice!=0) ExtMapBuffer1[ishift]=iprice;
DelObj();
ObjectCreate(TL1,OBJ_TREND,0,T2,PP+Step*AB,T1,PP);
ObjectSet(TL1,OBJPROP_COLOR,LineColor);
ObjectSet(TL1,OBJPROP_WIDTH,2);
ObjectSet(TL1,OBJPROP_STYLE,STYLE_SOLID);
ObjectCreate(TL2,OBJ_TREND,0,T2,P2,T1,P1);
ObjectSet(TL2,OBJPROP_COLOR,LineColor);
ObjectSet(TL2,OBJPROP_WIDTH,2);
ObjectSet(TL2,OBJPROP_STYLE,STYLE_SOLID);
ObjectCreate(MIDL,OBJ_TREND,0,T2,(P2+PP+Step*AB)/2,T1,(P1+PP)/2);
ObjectSet(MIDL,OBJPROP_COLOR,LineColor);
ObjectSet(MIDL,OBJPROP_WIDTH,1);
ObjectSet(MIDL,OBJPROP_STYLE,STYLE_DOT);
Comment("\nChannel size = ", DoubleToStr(MathAbs(PP - P1)/Point,0), " Slope = ", DoubleToStr(-Step/Point, 2) + "\nSpread @ " +
DoubleToStr(MarketInfo(Symbol(),MODE_SPREAD),0) + CreateHL());
//Comment(temp);
//----
//channel distance of last/current bar
ExtMapBuffer2[0]=NormalizeDouble(MathAbs(PP - P1)/Point,0);
//angle of channel
ExtMapBuffer3[0]=NormalizeDouble(-Step/Point, 2);
//----
return(0);
}
//+------------------------------------------------------------------+
//| |
//+------------------------------------------------------------------+
string CreateHL()
{
double HI2=iHigh(NULL,1440,0);
double LOW2=iLow(NULL,1440,0);
double HI3=iHigh(NULL,1440,1);
double LOW3=iLow(NULL,1440,1);
double HI4=iHigh(NULL,1440,0);
double LOW4=iLow(NULL,1440,0);
double HI5=iHigh(NULL,1440,2);
double LOW5=iLow(NULL,1440,2);
double HI6=iHigh(NULL,1440,3);
double LOW6=iLow(NULL,1440,3);
double HI7=iHigh(NULL,1440,4);
double LOW7=iLow(NULL,1440,4);
double HI8=iHigh(NULL,1440,5);
double LOW8=iLow(NULL,1440,5);
double HI9=iHigh(NULL,1440,6);
double LOW9=iLow(NULL,1440,6);
double HI10=iHigh(NULL,1440,7);
double LOW10=iLow(NULL,1440,7);
double HI11=iHigh(NULL,1440,8);
double LOW11=iLow(NULL,1440,8);
double HI12=iHigh(NULL,1440,9);
double LOW12=iLow(NULL,1440,9);
double HI13=iHigh(NULL,1440,10);
double LOW13=iLow(NULL,1440,10);
double HI14=iHigh(NULL,1440,11);
double LOW14=iLow(NULL,1440,11);
double HI15=iHigh(NULL,1440,12);
double LOW15=iLow(NULL,1440,12);
double HI16=iHigh(NULL,1440,13);
double LOW16=iLow(NULL,1440,13);
double HI17=iHigh(NULL,1440,14);
double LOW17=iLow(NULL,1440,14);
double HI18=iHigh(NULL,1440,15);
double LOW18=iLow(NULL,1440,15);
double HI19=iHigh(NULL,1440,16);
double LOW19=iLow(NULL,1440,16);
double HI20=iHigh(NULL,1440,17);
double LOW20=iLow(NULL,1440,17);
double HI21=iHigh(NULL,1440,18);
double LOW21=iLow(NULL,1440,18);
double HI22=iHigh(NULL,1440,19);
double LOW22=iLow(NULL,1440,19);
double HI23=iHigh(NULL,1440,20);
double LOW23=iLow(NULL,1440,20);
double OPEN=iOpen(NULL,1440,0);
double CLOSE=iClose(NULL,1440,0);
double ONE=(HI3-LOW3)/2;
//----
double FIVE=((HI3-LOW3)+(HI5-LOW5)+(HI6-LOW6)+(HI7-LOW7)+(HI8-LOW8))/10;
double TEN=((HI3-LOW3)+(HI5-LOW5)+(HI6-LOW6)+(HI7-LOW7)+(HI8-LOW8)+
(HI9-LOW9)+(HI10-LOW10)+(HI11-LOW11)+(HI12-LOW12)+(HI13-LOW13))/20;
double TWENTY=((HI3-LOW3)+(HI5-LOW5)+(HI6-LOW6)+(HI7-LOW7)+(HI8-LOW8)+
(HI9-LOW9)+(HI10-LOW10)+(HI11-LOW11)+(HI12-LOW12)+(HI13-LOW13)+
(HI14-LOW14)+(HI15-LOW15)+(HI16-LOW16)+(HI17-LOW17)+(HI18-LOW18)+
(HI19-LOW19)+(HI20-LOW20)+(HI21-LOW21)+(HI22-LOW22)+(HI23-LOW23))/40;
//----
double AV=(FIVE+TEN+TWENTY)/3;// New SettingAV = (FIVE+TEN+TWENTY)/3;
double AV2=((FIVE+TEN+TWENTY)/3) * MathPow(10, Digits);
double HIDaily=iHigh(NULL,1440,0)-(AV);
double LOWDaily=iLow(NULL,1440,0)+(AV);
double HIDaily1=iHigh(NULL,1440,0);
double LOWDaily1 =iLow(NULL,1440,0);
double HIDaily2=iHigh(NULL,1440,0)-(AV)*2;
double LOWDaily2 =iLow(NULL,1440,0)+(AV)*2;
string PipsFromOpen;
//----
if(Bid>=OPEN)
{
PipsFromOpen=DoubleToStr((Bid - OPEN)/Point, 0);
}
else
{
PipsFromOpen= DoubleToStr(-(OPEN - Bid)/Point, 0);
}
string retVal="\nTODAYS RANGE: " + DoubleToStr((HI2-LOW2)/Point, 0) + "\n"+"AVG. Daily Average: " +
DoubleToStr(AV2,0) + "\n" + "Open: "+ DoubleToStr(OPEN,Digits)+"\n"+ "Today\'s Hi: "+ DoubleToStr(HI2, Digits)
+" Low: "+ DoubleToStr(LOW2, Digits)+"\n"+ "Pips from Open: "+ PipsFromOpen+
"\n"+"Top Daily Range: "+DoubleToStr(LOWDaily2, Digits)+"\n"+
"Bottom Daily Range: "+ DoubleToStr(HIDaily2, Digits)+"\n";
//----
return(retVal);
}
//+------------------------------------------------------------------+
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